Solar Panel Cost Guide in Old Tappan, NJ (2023 Update)
- Old Tappan Solar Installation Cost: $9,055
- 25-Year Savings: $8,950
- Payback Period: 12.6 Years
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Updated May 04, 2023
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Average Cost of Solar Panels in Old Tappan
Let's take a look at the average cost of solar in Old Tappan.
Although the national average of solar panels is $2.66 per watt, solar panels in Old Tappan typically cost about 2.77. The average solar panel system size in Old Tappan is around 4.7 kilowatts, meaning a cost of about $9,055 for a solar installation, or $12,949 before the 30% federal solar tax credit is applied.
The true cost of your system can be higher or lower than the average in Old Tappan based on several factors, such as the model of solar panels you choose and the solar installer you hire. Even with the significant upfront cost, the average Old Tappan homeowner can save around $15,000 on their power bills over 20 years, which is one of the perks of solar.
You can click the button below to get connected with a pre-vetted solar company in Old Tappan for a quote for your home.
Solar savings over time in Old Tappan
| Year | Return on Investment |
|---|---|
| 1 years | $-8,335 |
| 3 years | $-6,895 |
| 5 years | $-5,454 |
| 7 years | $-4,014 |
| 9 years | $-2,573 |
| 11 years | $-1,133 |
| 13 years | $307 |
| 15 years | $1,748 |
| 17 years | $3,188 |
| 19 years | $4,628 |
| 21 years | $6,069 |
| 23 years | $7,509 |
| 25 years | $8,950 |
Top Solar Installers in Old Tappan
Although it's possible to install solar panels on your own, it involves extra time and expertise. For that reason, most people choose to hire a solar panel installer. The expertise that solar installers offer can be helpful as well, especially if you aren't sure what type of solar equipment you need.
If you're searching for a solar installer in Old Tappan, we've organized a list of our top suggestions here:
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
See all of the solar companies in Old Tappan
Factors that Affect Solar Panel Costs in Old Tappan
For many Old Tappan homeowners, the decision to adopt solar energy rests on cost. However, the range of solar installation costs can be quite wide in Old Tappan, with typical prices between $20,000 to $40,000. There are a number of factors that greatly influence the price you'll pay, which we'll go over below.
Solar Equipment
Solar system size, which is measured in kilowatts, is one of the largest factors that influences the overall cost of installing solar panels. Because of that, it's important to accurately gauge the size of the solar energy system needed for your home by figuring out your typical energy use. The model of solar panels and equipment you choose is another factor that will considerably influence costs. Solar panels that are more efficient, like monocrystalline panels, tend to be more expensive. Furthermore, solar equipment goes beyond just the solar panels themselves. You'll also need to consider the kind of racks used to mount the panels, inverters, solar batteries, etc. It's important to take all of this into consideration when searching for a solar system that's in your budget.
Solar Financing Terms
Solar panels can save you money on energy bills over many years, but they can also be a big investment. That's why many Old Tappan homeowners decide to finance their solar panel systems to offset upfront costs. Though solar loans make going solar more accessible for Old Tappan homeowners, they can also add to the total you pay for your system due to interest. If you make a larger down payment, though, you can cut back on how much interest you have to pay.
Solar Panel Installation Company
The solar installer you go with to handle your switch to green energy can have an effect on your total costs. There are about 3 solar panel companies in Old Tappan, and each can charge varying amounts for labor and equipment. You may come across national solar installers that have lower prices because of their bigger brand name and access to bulk pricing, or you might see small, local installation companies offering deals or promotions to compete with those major players.
Solar Panel Cost Data by System Size
| System size | Cost per system watt | Solar system cost | 25-Year savings | Payback period |
|---|---|---|---|---|
| 6 kW | $2.88 | $12,099 | $11,055 | 13.1 years |
| 8 kW | $2.83 | $15,822 | $15,050 | 12.8 years |
| 10 kW | $2.77 | $19,390 | $19,200 | 12.6 years |
| 12 kW | $2.71 | $22,803 | $23,506 | 12.3 years |
| 14 kW | $2.66 | $26,060 | $27,967 | 12.1 years |
| 16 kW | $2.60 | $29,163 | $32,582 | 11.8 years |
| 18 kW | $2.55 | $32,110 | $37,353 | 11.6 years |
| 20 kW | $2.49 | $34,902 | $42,279 | 11.3 years |
How to Save on Solar Panels
The solar panel company you opt for will influence not only your total costs, but also the types of solar panel brands, warranties, and other equipment you can get. When choosing a solar company, there are several important things you should take into account, such as:
- Installation Process: Make sure you're aligned with the installer in regard to how the installation process will go and what you need to do before your solar panel system is installed, such as updating or replacing your electrical system or roof.
- Contract: When reading over your solar company's contract, ask questions about any terms you're not sure of and be sure you understand what happens in scenarios such as a system part breaking or if the company goes out of business.
- Solar Panel Brands: Different companies offer different brands and models of panels. If you want a specific brand, make sure the solar panel company you're considering has it.
- Reputation: Make sure your solar panel installer has a good reputation by verifying it has certifications and licenses, checking how long it's been in business and reading reviews by previous customers and solar experts like EcoWatch.
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
EcoWatch's Old Tappan, NJ Solar Cost FAQs
How much does it cost to install solar panels in Old Tappan?
The average cost of solar panels in Old Tappan is about $13,850 for a 5-kW system and $27,700 for a 10-kW system before the ITC, but the real cost will depend on things such as the type of solar panels you want, what size system you need and how much energy you consume.
Is cost the most important consideration when buying solar panels?
The upfront cost is a very important factor to consider, but whether it's the most important for you depends on why you decided to go solar. In cities where rooftop space is limited, efficiency can trump the cost. Other factors that are important to take into account are the quality and durability of your solar panels.
Can solar panels completely eradicate my electricity bills?
It is possible to erase your electricity bills with solar panels, but for most homeowners throughout Old Tappan, that will require at least a 10-kW system. Not all homes will have the roof space for that size system, so you'll want to check with a local solar installer to see how many panels can fit on your roof.
What solar power system size is right for my home?
The exact number of solar panels you need depends on your household energy needs and the amount of sunlight your roof gets. You can take a look at your energy bills for the past year to get an idea of the solar system size you'll need. The average household has to install between 20 and 35 panels to cover their typical energy usage.
Our goal is to reach as many people as we can with sensible solutions like solar energy. Our team of full-time local researchers collects solar price and installation data for every city in America then compiles it to create these digestible city guides. If you want to read our solar expert's opinion on the top solar companies featured here, follow this link.
Company research was conducted by Melissa Smith and Karsten Neumeister. Local data analysis was conducted by James Savino. See something we missed or could do better? Email the editor.